Economy

In January-October 2018 Georgia’s filbert exports made up 45.800 million USD, down 19 million USD year on year. According to Geostat, national statistics service of Georgia, in the first quarter of 2018, the filbert exports exceeded 18 million USD, in the second quarter the figure made up about 10 million …

Kakha Kaladze, the mayor of the capital, presented a year report to the society. The activity report includes seven main directions – urban development, transport, social, economic, environmental, education, culture, healthy lifestyle and youth as well as management policy. During the presentation, Kakha Kaladze talked about the major changes implemented …

The European Bank of Reconstruction and Development (EBRD) is extending a €27 million loan to Georgia to acquire up to 200 new compressed natural gas buses for the country’s capital of Tbilisi. The EBRD loan is supported by a grant of up to €7 million, provided by the Eastern Europe …

Since 2011, member companies of Association of International Investors have invested about 600 million USD in Georgia. Currently, the Association registers 14 companies, which make investments in the fields of industry, construction, tourism and medicines. Osman Chalikshani, head of Association of International Investors, told BM.Ge that the member companies have …

The Georgian President’s reserve fund will be abolished, according to the final edition of the 2019 state budget bill. It is noteworthy that under the initial bill, the President’s reserve fund was to be financed by 5 million GEL. Furthermore, the new administration of the Georgian President will cut expenses …

Number of microfinance organizations that are registered at National Bank of Georgia (NBG) decreased by 3 ones, while the number of currency exchange booths declined by 21 ones. Moreover, one service centre of a commercial bank was also closed. According to the NBG statistics, in late October 2018, a total …

On November 25 Russian naval vessels rammed and arrested two Ukrainian military motorboats and tugboat in Kerch Strait. Kyiv announced 60-day martial law. As a result, the confrontation between two countries reached a new peak. Naturally, new challenges arose before Georgian economy. The reason is clear – Russia and Ukraine …

About 35% of the capital budget, approximately 327 million GEL will be allocated for healthcare and social direction. Tbilisi Mayor Kakhi Kaladze declared about it at the concluding event of 1-year work. According to him, next year’s budget will amount to 921 million GEL, which will be added to the …

The processes related to tender for the hydropower plant project Engurhesi rehabilitation will have to be completed by the end of April 2019 – Engurhesi Director Levan Mebonia told Bm.ge The Engurhesi rehabilitation project is financed by the European Bank for Reconstruction and Development (EBRD). EBRD already allocated 28 million …

According to Ministry of Environment Protection and Agriculture, as part of tea plantations rehabilitation program – Georgian Tea, a total of 39 projects were financed from 2016 up to August 31, 2018 and spaces of 907 hectares have been rehabilitated or are being rehabilitated. In the reporting period, total investments …

The Ukrainian low-coster SkyUp plans to launch regular flights from Kiev to Batumi, besides Tbilisi. According to SkyUp, the company will operate on Kiev-Batumi airspace from May 25, 2019 and will carry out daily flights. It is already known that the price of the ticket will be from 1527 Ukrainian Hryvnia. …

We find it absolutely unacceptable to disseminate this misinformation aimed at misleading our population, destabilizing the situation and damaging the interests of not only one specific airline, but the whole business environment in Georgia. We would like to declare with full responsibility that no restrictions will be introduced against Wizz …